Hula and The Real Estate Market Today

We are in a Short Sale War, buyers are making offers that are being sent to the prospective lenders who have to get approvals from investors and so on and so on....After many days, weeks, months and for some agents a year or more holding on with a thread and a hopeful buyer in tow are now finding out that these lenders are trying to work with these owner/sellers to modify.

(AAAAAAAAAAAAAh---eeaa---------AAAAAAA) This is me screaming.

Of course we want owners to work things out with their lenders, but not after all the hard work, time, disappointments, and money that it takes to get these homes sold. There has to be a better system in place to stop the madness. I'm sure this will help to make us better Realtors in the long term but in the short term there are going to be a lot of grumpy, upset, discouraged Realtors and buyers who think we have something to do with this craziness.

Pressing forward....knowing that "This too shall pass", can I get an AMEN.

Dee

A beautiful sunny day here in Huntington Beach, I wish you and your family the best Fathers Day. Enjoy the day relaxing not stressing about, I guarantee that the only things fathers love most doing is relaxing or the remote control would have never been created. Napping may be the next best thing to dad's heart and/or the S word, he always seems to be up for that. What can I say, I have to keep it clean.

And...on that note, what is the REAL, real Estate market up to?....Well just found out that Calif 1st time homebuyers credit on new construction is dwindling down to nothing. If you were going to use that 10K gift from the state than you better shop today, get into escrow today and be ready to close tomorrow or the money will be gone. The 8K tax credit is still going strong and some lenders have agreed to use it towards closing costs rather than waiting to take it off next years taxes. This is great news for 1st time homebuyers it can make a huge difference when you don't have that extra $ to close with. Also make sure you ask your lenders about homebuyers assistance programs, you may qualify.

Well, I'm off to pay my respects to my Father in Heaven this morning it just seems like the right thing to do especially on Father's Day.

Have a wonderful day.

Dee

Why is it everyday I have a list to do but somehow....the time gets away from me and the list keeps growing day by day?  In my yesteryear (seems like last week) I would get everything done plus extra...and now......hummm just not happening. But at the same time since I've mellowed a bit in my old age it doesn't matter as much to get it all done. So, I have more to do tomorrow and I'll get to it eventually.

Now when it comes to my clients it's quite a different story, I'm there for them 24/7 and I always have my part completed before anyone else, funny how that works. Makes me a great agent to work with and I know my clients appreciate the extra service I give to their transactions.

How is the market doing anyway???? Inventory is dwindling, interest rates are inching up and there are more buyers than sellers. So I'd say it's stabilizing a bit but it really is a calm before a storm. We all know that banks are holding foreclosures due to the moratorium, more are willing to do loan mod's and short sales are bigger than they've ever been so it isn't an easy market to work in. Buyers need to stay strong to get the desired property and sellers need to be ready to move now. Kind of fun but hectic at the same time.

Time....it's a magic word, we all have the same amount of it and choose to use it differently....best to think of it as there's no time like the present and enjoy the time you have.

Dee

If your one of the rare finds of an Equity Seller you are gold in the eyes of a Realtor. No lengthy short sale transaction, no lender to tell you what they won't do to sell the property. Just a nice clean sale with all parties happy to negotiate and walk away satisfied. Ahhhh, that's my smiling sigh.

Plus.....if your an equity seller your able to sell your home in many different ways for example: if your retired and still want to generate some cash flow from your home you can either carry the full balance with the new buyers paying you direct, through a lawyer or through a trust account with interest. or....you can carry back just a portion of the loan, like a second and remember if the buyers default you have your home back plus all the payments they have been making in between. If you still have a mortgage balance of your own left to pay on this home and it's assumable (FHA, or VA)that has a good interest rate a new buyer may want to assume that loan and still make payments to you on the difference of the sale. These are called land contracts and AITD (all inclusive trust deeds) and these are just a couple of ideas.

Everyone is struggling, but if your an Equity Seller trying to downsize/upsize and still generate income due to a change in your life, think outside of the box you have the treasure that many are after. There are many families that still can't afford that large down payment but are able to make the monthly payments just fine and want to be homeowners.

Working with buyers and sellers who know the possibilities are real.

Our company has become a franchise of the Weichert Family so our new name will be Weichert Realtors-Gold Coast.

Dee Fether

Real Estate is so much fun.....some days extra fun, you have to smile everyday and wonder why this market has to be this crazy.

Transactions that use to take 30 days are now barely making the 90 day mark with emotions and stress for all involved yet the strong prevail every time. This market is not for the faint at heart it's for those that are focused on their goals and don't let the inconveniences sidetrack them.

Make your goal to complete your dream of home ownership and stand strong in the adversity because there is a light at the end of the tunnel and you will be happy you came through it and.. you'll have stories to tell your grand kids.

There is only one thing you can count on and thats the fact that everything that can go wrong, just might, but when your ready (emotionally) for that, it's just another drop in the bucket and one drop is not going to change your mind.

Now is the time, but the time takes time!

Dee